Tds

This query is : Resolved

Sankar Chakraborty (Querist)
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03 February 2012
Dear Experts,
please help me on the following:

1. What is the last date of revise(correction) TDS return ? example : I have submitted Q3’2011 return but now I want to revise Q1 return ; is it possible ? and how far date is possible ?

2. what is the entry for excess tds deposited in accounts as example:
Bill received on 20.10.11 Rs. 108220/- so tds deposited of Rs. 1082/- as 1% Tds u/s 194C

On 10.11.11 Bill changed / reduced to Rs. 98220/- so excess deposited Tds (1082-982) = 100/-

In Q3 return I showed bill amt 98220/- and Tds 982/- in Annexure (in challan I have to show full challan amt. i.e. 1082/-)

Now I don’t want to adjust Rs 100 in coming month’s tds payable so what is the entry to be done in books for Rs. 100/- ?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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03 February 2012 1. No specific time limit fixed for correcting the TDS return

2.If you dont want to adjust the excess TDS then that will be loss for you. need to write off as expenses

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